RSM Australia

Tax insights

Tax Insights

Instant asset write-off to ‘skip the line’ of legislation in the Senate

18 March 2019
Doubt has been raised as to whether the recently announced increase to the Small Business Instant Asset Write-off threshold from $20,000 to $25,000 and effective 29 January 2019 to 30 June 2020 will be passed before the Federal election.  

GST nuances – from the world’s oldest profession to it’s newest

13 March 2019
Almost 20 years on from the introduction of GST in Australia by then-Prime Minister John Howard and who’d have thought that robust deliberation on its application continues.

Tax on sale of family home - proposed government change

5 March 2019
Australian expats who own homes in Australia are not the only ones at risk of paying tax on the former family home under proposed changes to capital gains tax (CGT).

The devil in the detail – have you ‘used’ that mining, quarrying or prospecting right?

4 March 2019
While Australia’s tax system rightly supports resource exploration by allowing deductions for depreciating assets first used in exploration, concerns that the deduction was being misused prompted an integrity approach to support genuine exploration.

Proposed R&D tax changes don't stand up to Senate scrutiny

14 February 2019
The Senate’s Economics Legislation Committee report was tabled on Monday 11 February and in its collective wisdom, the committee has put on hold proposed changes to the research and development (R&D) tax incentive.

ATO broadens Reportable Tax Position lodgement requirements

7 February 2019
In the quiet of the first week of February, as Australia is getting back to work after the holiday period, the Australian Taxation Office (ATO) announced sweeping changes to its Reportable Tax Position (RTP) Schedule criteria. 

Changes to Capital Gains Tax exemption for foreign residents

6 February 2019
Controversial legislation enabling the removal of the capital gains tax (CGT) main residence exemption for foreign residents was originally scheduled for debate in the Senate on 16 October 2018. 

Single Touch Payroll Reporting – Clarity for small employers?

12 December 2018
After considerable delays in the Senate, small employers now have some clarity surrounding the implementation date for Single Touch Payroll reporting (“STP”).  The Treasury Laws Amendment (2017 Enterprise Incentives No. 1) Bill 2017 was passed by the Senate on Wednesday 5 December 2018 with a proposed amendment.

How businesses can avoid being caught off-guard by payroll tax

3 December 2018
Following high-profile cases of businesses failing to adequately pay their workers, some of those same businesses are being investigated for failing to pay their state payroll tax.

Bridging the governance gap

28 November 2018
Having worked with companies to implement tax governance frameworks for over 15 years, I’m seeing the first signs that tax governance is truly going mainstream.

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